Obama’s Economy: Wall Street Thrives, Main Street Dies

The man at the center of the storm has blown a giant hole in the notion that the Obama administration is looking out for middle class Americans. “Andrew Huszar: Confessions of a Quantitative Easer,” is piece written for the Wall Street Journal by Huszar himself, revealing that he was the person responsible “for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing.” Four years later, the scales have fallen from his eyes. “The central bank continues to spin QE as a tool for helping Main Street,” Huszar writes. “But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.”

There is a plethora of evidence to back up Huszar’s assertion. While Wall Street continues to flirt with record highs, Main Street is stagnating. Despite the happy talk that constantly emerges from the Obama administration and its media cheerleaders, a record-setting 91,541,000 Americans were not participating in the labor force as of October, according to the Bureau of Labor Statistics (BLS). Between the time Obama entered office in 2009 and last month, more than 11 million Americans have left the labor force. If the trend continues, the number of idle Americans will top the number of working Americans in four years.

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